The seed funding round for FinderBase was finally launched yesterday. Most of my active readers have received the investor letter. If you haven’t but would like to see it, just contact me directly.
So it all comes down to this.
Due to the tight schedule of this project, the funding round will be closed already next Monday at 4 pm Finnish time. This weekend is the Midsummer so I bet people have better things to worry about than our investment round.
At this point we have about 20,000 € worth of commitments to invest so we’re at least 80,000 € short to make this happen. It all comes down to the last day of my project on Monday. However, if we do get investments during the weekend, I’m happy to report the updated status here.
Today was an important day in my project. We finally got the answer to the ultimate question:
How can this project end?
As we all know there are two possible outcomes and the shareholders of FinderBase decided today what they mean:
My project will fail. The seed funding round will not be closed if we raise less than 100,000 € (50 % of the target sum).
My project will succeed. The seed funding round will go through.
Who wins if I succeed?
If we think only in terms of cash, the biggest winners here are the guys who have been linking to my blog. If the round fails, my project will end up on the negative side. But if the round goes through, I will get my “million dollars” and these guys will get their affiliate money. And there’s still a lot of money in the budget so anyone can help out by spreading the word.
But how could the round fail? We have the guys at GrowVC helping us out. If you want to be a part of this success story, join the seed funding mailing list and we’ll tell you more.
To get this project to its goal, we need to see if we have been able to create measurable value in the eyes of investors. With investors I mean anyone who has some money and wants to put it to a good cause.
According to the recent poll, there are at least 34 people who are interested in hearing our investment proposal. So if you want to receive the FinderBase investor brochure, please leave your contact information to this
I have been now writing this blog for 100 days. There have been ups and downs but my project is still standing.
But where is the money?
For some weird reason people keep asking me this. To show where the money is, I’ll quote my favorite professor Pier A. Abetti:
Think of companies like pizzas. Your startup is a whole mini pizza that you own. When you sell a part of it, the pizza becomes bigger. Would you rather own a whole mini pizza or a slice of the bigger pizza?
The lesson here is that the small slice of a bigger company tends to be worth more than the whole smaller company.
So the plan is this:
We have founded a company FinderBase Oyj that owns the FinderBase.com service.
We will arrange an issue of shares for FinderBase Oyj.
We will offer the shares to people who trust us and want to be a part in building a big phenomenon.
This will dilute our own ownership but will grow the company.
Would you be interested in getting our investor brochure?